WiseTech Global (ASX: WTC) has announced significant Board changes, with four independent non-executive directors—Lisa Brock, Richard Dammery, Michael Malone, and Fiona Pak-Poy—stepping down. Their decision follows irreconcilable differences within the Board regarding the role of Founder and Founding CEO, Richard White.
Their resignations will take effect after the half-year results release on 26 February 2025. The results presentation will be led by Interim CEO Andrew Cartledge, Interim CFO Caroline Pham, and Richard White.
Additionally, Mike Gregg will join the Board on 26 February, pending background checks. WiseTech also indicated plans to appoint further directors in due course.
Guidance Update: Mixed Signals
WiseTech has also revised its FY25 revenue and EBITDA expectations. The company now expects revenue to land at the lower end of its guidance range, citing further delays in rolling out its three Breakthrough Products. However, EBITDA margin is expected to be towards the top end of the range, thanks to a company-wide efficiency program delivering stronger-than-expected results.
About WiseTech Global
WiseTech is a global leader in logistics software, serving over 17,000 logistics companies across 183 countries. Its CargoWise platform is a core solution for major freight forwarders and third-party logistics providers, with over 5,600 product enhancements rolled out in the past five years.
Despite internal boardroom tensions and product rollout delays, the company remains focused on innovation and efficiency as it navigates this critical period.
